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CFPB Lobs First Volley In Long Fight Over Payday Loans

The Consumer Financial Protection Bureau on Thursday fired the opening shot in a long battle over new regulations for payday loans that the bureau says will eliminate so-called debt traps and will likely reshape the market for short-term credit offered by a host of financial institutions.

  • States Block FMLA Same-Sex Spouse Rule Change

    A group of state attorneys general on Thursday won their bid to block the U.S. Department of Labor from enacting a new rule under the Family and Medical Leave Act that would extend protections to same-sex couples when a Texas federal judge granted a preliminary injunction.

  • EFH Judge Rules Against Bondholders In Make-Whole Fight

    Bankrupt Texas power giant Energy Futures Holdings Corp. is not liable for a penalty of two-thirds of a billion dollars for early repayment of $4 billion in senior bonds, a judge ruled Thursday.

  • SEC Fines 22 Broker-Dealers $6M For Failing To Register

    A group of 22 companies and individuals on Thursday agreed to pay nearly $5 million in disgorgement and $1 million in penalties to settle the U.S. Securities and Exchange Commission’s allegations that they regularly bought and sold securities on behalf of a suburban Chicago-based trading firm without registering with the agency.

  • LightSquared Wins Approval To Exit Marathon Ch. 11

    LightSquared Inc. secured a judge’s approval Thursday for a bankruptcy reorganization that lets the wireless startup repay its debts, try to revive a failed nationwide network and retain an ownership stake for Philip Falcone’s hedge fund after three years of intense confrontations with creditors.

  • House Passes Permanent Medicare 'Doc Fix'

    The U.S. House of Representatives on Thursday passed a bill intended to put in place a permanent “doc fix” to replace Medicare’s unpopular physician reimbursement system, commonly overridden by lawmakers each year.